PACCAR Inc. (NASDAQ:PCAR) Receives Consensus Rating of "Hold" from Brokerages

PACCAR Inc. (NASDAQ:PCAR - Get Free Report) has earned a consensus recommendation of "Hold" from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $104.59.

PCAR has been the topic of several recent research reports. Truist Financial cut their price target on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley lowered PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target on the stock. in a report on Wednesday, April 16th. JPMorgan Chase & Co. lowered PACCAR from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $105.00 to $90.00 in a report on Wednesday, April 30th. Evercore ISI cut their price target on PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Finally, UBS Group lowered PACCAR from a "neutral" rating to a "sell" rating and cut their price target for the stock from $108.00 to $78.00 in a report on Monday, April 7th.

Insider Activity at PACCAR

In other PACCAR news, Director Pierre R. Breber acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $89.78 per share, with a total value of $448,900.00. Following the transaction, the director owned 13,015 shares of the company's stock, valued at $1,168,486.70. The trade was a 62.38% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

A number of institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of PACCAR during the fourth quarter valued at about $526,922,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of PACCAR by 370.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock valued at $557,453,000 after acquiring an additional 4,219,964 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock valued at $1,964,725,000 after acquiring an additional 3,379,165 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of PACCAR by 2,957.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company's stock valued at $205,469,000 after acquiring an additional 2,041,168 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of PACCAR by 177.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company's stock valued at $255,187,000 after acquiring an additional 1,677,736 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $93.68 on Friday. The stock has a market cap of $49.18 billion, a P/E ratio of 14.19, a PEG ratio of 3.50 and a beta of 0.94. The stock has a 50 day simple moving average of $94.71 and a 200 day simple moving average of $98.54. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. PACCAR has a 1-year low of $84.65 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The company's revenue was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.27 EPS. Research analysts anticipate that PACCAR will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.41%. PACCAR's dividend payout ratio is currently 20.00%.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.